By now, credit union leaders have become accustomed to new regulations coming down the pike. Less awareness exists, however, for the importance of moving early on the steps it takes to comply with these new regulations.

Because credit unions already generally abide by new final qualified mortgage and ability-to-repay rules released Jan. 10 by the Consumer Financial Protection Bureau, the most difficult compliance burden will be to document the process, said John Bundy, compliance manager for CUNA Mutual.